Stimulus Check Yourself Before You Wreck Yourself
Many Americans have now received their Coronavirus Aid, Relief, and Economic Security (CARES) Act stimulus checks. Eligible adults get $1,200, with an extra $500 added per child in a household. Some won't qualify for the full amount, including individual tax filers with adjusted gross income over $75,000 and joint filers with AGIs over $150,000. The check amount drops by $5 for each $100 of adjusted gross earnings over the cutoff amounts.
For some recipients, these funds help provide needed cash to cover basic expenses like food, utilities, rent, and mortgage payments. For others, like those who count themselves lucky enough to not be economically affected by the coronavirus pandemic, the money may seem less crucial.
Whichever camp you fall into, there are still smart ways to use the funds you receive (and a few dumb ones). Here are four things to factor in as you decide what to do with your stimulus check.
Source Fool.com
